Hyundai Motor Group Chairman Euisun Chung, accompanied by President Trump, announced on the 24th (local time) at the White House that the company will invest $21 billion (approximately 31 trillion won) in the United States over the next four years. This investment will span across automotive production, parts and logistics, and future industries and energy sectors.

Key Investment Details:

Automotive Production: $8.6 billion investment, expansion of production capacity at the Georgia plant.
Parts, Logistics, and Steel: $6.1 billion investment, establishment of a new steel mill in Louisiana.
Future Industries and Energy: $6.3 billion investment, collaboration and commercialization in future technologies such as autonomous driving, robotics, AI, and AAM.
In particular, Hyundai Motor Group plans to contribute to strengthening the U.S. automotive supply chain by building an electric arc furnace steel mill in Louisiana with an annual production capacity of 2.7 million tons. Additionally, the company will expand the production capacity of its Georgia plant to establish a system capable of producing a total of 1.2 million vehicles annually.

Chairman Chung stated that this investment will accelerate the localization of the U.S. supply chain and solidify Hyundai Motor Group's position as a stronger partner in the future of American industry. President Trump praised this investment as a result of his tariff policy and welcomed Hyundai's expansion of production in the United States.

[Copyright (c) Global Economic Times. All Rights Reserved.]